What do you want to achieve this year? Will you finally launch the business you have been dreaming of? Will this be the year where you go national and reach your new clients?

Whatever your goals are, we want to be a part of journey. This is why we’ve developed a step-by-step toolkit to help you get started.

Step 1: Clearly Defining Your Goals

2019 is here, and it is your year to show all things are possible. What business will you start? Who will you become? Is it the year where you sell your first product, hold your first conference, get your first client, grow a community around your skillset, or working from anywhere? Be clear on what you want to accomplish by defining your goals. Writing your goals down can help you see your vision clearly and will encourage you to take steps necessary to hold yourself to them.

Step 2: Make a Plan of Action

Your goals need a good plan to become a reality. If you are having trouble, we are here to help you develop a plan around your goals for action. Contact us to work with you on defining the best steps for you to achieve your goals. Schedule your appointment here.

Step 3: Setup the foundation of your business.

Now it’s time to take action. Follow your plan and setup your community to attract the clients you want to serve. Utilize all avenues and platforms where your ideal clients will be, and show them you are here, ready, willling and able! Get your website set up, develop your products, share your content. If you face challenges along the way, LoJa Enterprise is here to support you.

Doing a Business Plan is the first step in starting a business. It is the foundation giving you the perspective needed to understand all aspects of your business. The Business plan is a tool you can use as your guide throughout each stage of start-up, and a reference to managing your business and is key when external funding is necessary. As your roadmap, it explains how you will structure, manage and grow to become a successful business owner. Here are the key elements you should include in any business plan:

Executive summary
You need to explain your business idea in the plan, as well as the pros and cons. The feasibility of the business and the reasons why the business will be a success should also be explained in this section. This section should give a clear indication of the business, its return on investments and its products and services.

Product researchThe product or service has to be described thoroughly. Not only should the plan contain the details about the products, but it should also contain the benefits of the product and how it differs from other products currently available in the market. Any disadvantages associated with the product should be mentioned too. A concise explanation about how the products will be developed should also be given. If there are any plans to introduce new products or services in the future, then the business plan should include research about such products too.

Market researchYou’ll need a description of your target market, as well as the strategies that you are planning to use to gain as big a share of the target market as you can. Specific customer profiles from different target markets should also be mentioned. The business plan should define your main competitors and should also include the pros and cons of your products over those of the biggest competitor. Underestimating the strength of your competition can often lead to business failure. You should research the competition thoroughly so that you can find ways to gain a competitive advantage.

Sales planSales of products are what drives any business and guarantees its success. Hence, you should devise a marketing and sales plan that is specifically aimed at your target market rather than the general buying public. Your business plan should also include sales strategies and promotional activities that you are planning to undertake to increase sales.

Financial detailsThe financial details of your business should be detailed clearly. Not only do you need to mention the amount of investment needed for the business, but you should also mention the avenues where you expect to receive the funding from. Pricing of your products, sales forecasts and return on investment should also be calculated and specified in the business plan. If there are plans of future expansion of the business, you need to provide the financial requirements, as well as how you hope to raise the money for the expansion. A good business plan should also include financial forecasts for at least three years out. Your reasoning for such Starting should also be mentioned.

Three downfalls to avoid in your business plan:

Not knowing your numbers. By paying careful attention to the financial details of the business plan, you will be able to determine the exact capital expenditure that is required for your business. Your return on investment projections will also make it easier for you to receive adequate financing from different banks and major financial institutions.

Being sloppy in presentation. A business plan should always be drafted and printed in a professional manner. The plan should not be too verbose and should highlight all the main points clearly.

Rushing your summary. The executive summary section of the business plan is always included at the start of the plan. However, you may want to wait till you finish writing the rest of the business plan to write the summary. By doing so, you can ensure that you won’t miss out on any vital points and that it is a clear summary of your entire business plan.